USD/JPY Monthly/Weekly 7 swing WXY

18 ago 2018

I am showing you this illustration to try and point out the bigger picture. A "B" wave is a 3 wave move. So far UJ has completed a 7 swing wxy for a "B" wave can be on the way up long term for a "C" wave (On both time frames). The only question is, will we get an "X" and a "Z" added to the swing pattern? That would mean we get a triple combo (which is rare) if UJ went down, but structurally the pattern has to finish out so even if it goes down, it should need to come back up to complete "C". Keep in mind, a "C" wave is a 5 wave, that has the possibility of correcting itself and becoming a reversal for a 5 wave of a larger degree. Will this help you trade it this week? Maybe not. But at least it might peak your interest into learning wave theory so that it can. (I don't teach it by the way) just sharing a chart.